Counterpoint Mutual Funds LLC Buys 2,046 Shares of Ovintiv Inc. (NYSE:OVV)

Counterpoint Mutual Funds LLC raised its stake in shares of Ovintiv Inc. (NYSE:OVV) by 33.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,221 shares of the company’s stock after acquiring an additional 2,046 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Ovintiv were worth $333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Gallacher Capital Management LLC lifted its stake in Ovintiv by 18.2% during the 4th quarter. Gallacher Capital Management LLC now owns 12,562 shares of the company’s stock valued at $509,000 after acquiring an additional 1,937 shares during the period. Ninepoint Partners LP boosted its holdings in shares of Ovintiv by 16.9% in the fourth quarter. Ninepoint Partners LP now owns 225,000 shares of the company’s stock worth $9,112,000 after buying an additional 32,500 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Ovintiv in the fourth quarter worth approximately $215,000. Natixis Advisors LLC boosted its holdings in shares of Ovintiv by 8.3% in the fourth quarter. Natixis Advisors LLC now owns 36,393 shares of the company’s stock worth $1,474,000 after buying an additional 2,797 shares during the last quarter. Finally, Poinciana Advisors Group LLC purchased a new position in shares of Ovintiv in the fourth quarter worth approximately $214,000. Institutional investors own 83.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on OVV. UBS Group dropped their price objective on shares of Ovintiv from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price objective on shares of Ovintiv from $56.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Truist Financial raised their price objective on shares of Ovintiv from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Williams Trading set a $58.00 price objective on shares of Ovintiv in a report on Wednesday, March 5th. Finally, National Bankshares lifted their price target on shares of Ovintiv from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.61.

Ovintiv Trading Up 1.3 %

Ovintiv stock opened at $41.06 on Tuesday. The stock has a market cap of $10.69 billion, a P/E ratio of 5.45 and a beta of 2.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.52 and a quick ratio of 0.52. Ovintiv Inc. has a 1 year low of $36.62 and a 1 year high of $55.95. The firm’s 50 day moving average price is $42.87 and its 200-day moving average price is $41.81.

Ovintiv Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, March 14th. Ovintiv’s dividend payout ratio is presently 28.57%.

Ovintiv Company Profile

Ovintiv Inc, together with its subsidiaries, explores, develops, produces, and markets natural gas, oil, and natural gas liquids in the United States and Canada. The company operates through USA Operations, Canadian Operations, and Market Optimization segments. Its principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.